Risks and Ethical Issues with Predictive Analytics and AI

The pace of new technology is creating difficult ethical questions for insurance companies. This webcast will help you address them.

This webcast will cover the major concepts of the SOA report “Ethical Use of Artificial Intelligence for Actuaries,” including the five pillars of ethical AI. Some primary sources of PA and AI risks include the following:
• Data risks, resulting from imperfect or misunderstood data
• Bias risks, resulting from both deliberate and unintentional bias that can manifest itself at many points in the PA or AI development process
• Automation risks, where the automation of a process can have unintended consequences
• Amateurish development, where the systems are not developed by AI professionals and unintended consequences result

Certain concepts such as the difference between compliance and ethics, as well as social context and how it can guide when ethical questions arise, will be discussed. This session will also cover the actuarial precepts involved.

At the conclusion of the webcast, attendees will:
• Have a more thorough understanding of how the use of PA and AI can potentially lead to improper results
• Be able to recognize situations and apply some of the techniques and tools to prevent or minimize conscious and unconscious bias
• Be able to identify how to apply and deal with constructing and using ethical predictive modeling programs which also aligns with the Actuarial Code of Professional Conduct

Kevin J. Pledge, FSA, FIA (Moderator)

Founder and CEO, Acceptiv

Serial entrepreneur, specializing in online distribution solutions for insurance organizations.

Previous to entrepreneurial move, held positions with senior strategic and operational responsibility for insurance organizations in the UK and Canada. Responsible for not only the actuarial function, but marketing, compliance and administrative areas as well. Left this to start an analytics firm catering to the insurance industry, led this firm for 15 years.

Kevin is qualified as a Fellow of the Institute of Actuaries (UK) and a Fellow of the Society of Actuaries.

Neil Raden

President & CEO, Hired Brains Research LLC

Neil Raden is an industry analyst and advisor, and founder of Hired Brains Research. He's been an actuary, statistician, software engineer and consultant for three decades. His specialties are the use of analytics to drive decision-making. He is the co-author of the book ''Smart (enough) Systems, Prentice-Hall, 2007 and dozens of journal articles, whitepapers, presentations, and keynotes in the US and abroad. He has been a guest presenter many times at SOA events. Neil is the Principal Investigator and author of the 2019 report ''Innovation and Technology: Ethical Use of Artificial Intelligence for Actuaries'

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Webcast Session
07/23/2020 at 4:00 PM (EDT)  |  Recorded On: 07/27/2020
07/23/2020 at 4:00 PM (EDT)  |  Recorded On: 07/27/2020
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